Deutsche Bank has launched a platform in partnership with Freddie Mac to slash some of the technology costs needed in the eNote process.
The bank, which currently serves as one of Freddie’s document custodians, released an automated eNote certification and safekeeping technology that integrates with the Freddie Mac loan selling advisor platform.
“In addition to minimizing the need for the current bifurcated custody model for eMortgage seller/servicers, this integration lays the foundation for potential solutions to minimize some of the technology setup costs required in the eNote process,” said Samuel Oliver III, vice president of single-family major projects at Freddie Mac.
eNotes were first issued in the US in 2001, and Deutsche Bank has continued to partner with mortgage lenders in originating eNotes since then. The bank currently handles more than 17,000 eNotes per month.
“The launch of this authentication solution together with Freddie Mac highlights Deutsche Bank’s commitment to being the most innovative player in the US document custody space,” said Jose Sicilia, global head of trust and agency services at Deutsche Bank. “With a strong team of industry experts and leveraging the latest advances in technology, Deutsche Bank continues to provide superior service to our clients.”